Onsemi (NASDAQ:ON) Price Target Cut to $60.00 by Analysts at Roth Mkm

Onsemi (NASDAQ:ON) had its target price lowered by Roth Mkm from $100.00 to $60.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other research firms also recently commented on ON. TD Cowen cut their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Craig Hallum dropped their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday. The Goldman Sachs Group decreased their price objective on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday. Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a research note on Friday, February 7th. Finally, KeyCorp decreased their target price on shares of Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.36.

Onsemi Stock Performance

ON opened at $47.93 on Tuesday. The stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 10.27 and a beta of 1.62. The company has a fifty day moving average of $59.62 and a 200 day moving average of $67.18. Onsemi has a fifty-two week low of $46.57 and a fifty-two week high of $85.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. As a group, sell-side analysts forecast that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB lifted its position in Onsemi by 25.9% during the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after acquiring an additional 82,614 shares in the last quarter. Natixis Advisors LLC lifted its position in Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after acquiring an additional 18,450 shares in the last quarter. Cinctive Capital Management LP acquired a new position in Onsemi during the 3rd quarter worth approximately $1,270,000. Blue Trust Inc. lifted its position in Onsemi by 16.1% during the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after acquiring an additional 1,119 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in Onsemi during the 4th quarter worth approximately $515,000. 97.70% of the stock is owned by institutional investors and hedge funds.

About Onsemi

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.